John Lewis and Waitrose to merge, 75 jobs lost
John Lewis is set to merge with Waitrose in a move that the John Lewis Partnership (JLP) hope will save £100 million.
The department store chain and supermarket will now be run as a single entity, enabling major cost savings for the group.
The change will see the loss of 75 jobs, understood to all be senior positions in head offices.
Meanwhile, as The Times reports, JLP food head Rob Collins is set to leave after 26 years with the company.
The Partnership recorded a half-year loss of £25.9 million, its first since 1972, citing poor homeware and electronics sales combined with rising costs for its stores.
Chairman Charlie Mayfield said: “Our current structure has served us well in the past, enabling us to develop two of the UK’s most loved and trusted brands.
“However, the lesson of the last two years is that we need more innovation, faster decision-making and bolder steps to align our operating model with our strategy.”